Hockenheimring was absent from this year's calendar due to financial issues, but will definitely make a return in the 2016 racing calendar, says Mercedes boss Toto Wolff.

Mercedes AMG Petronas Team Principal Toto Wolff said in a press statement yesterday that the German Grand Prix, held at Hockenheimring, will return to the Formula One calendar after a break this year.

The race, which is usually scheduled for the second week of July, did not take place after the circuit’s management ran into financial issues and was unable to meet the demands of the FIA and F1 supremo Bernie Ecclestone.

Hockenheim is the home race for Mercedes AMG Petronas – the automakers are German – as is one of their drivers, Nico Rosberg. The Grand Prix was present on the provisional 2016 calendar given to teams for next year, but at the time its status was still uncertain. This is not the case any longer, with Wolff saying in his statement “We will be in Germany next year. The race is 100 per cent going to happen. The budget is there, it is a fact.”

According to the Mercedes boss, Hockenheim had attempted to raise funds from several sources – among them Mercedes themselves, organisers and investors at Hockenheim and Bernie Ecclestone himself, but this had earlier been unsuccessful. Wolff said in an interview with The Independent that he was looking forward to ‘showing off our vehicles’ to Mercedes’ German automaking colleagues Daimler.

Several of Formula One’s greatest have been German – two of the most iconic names in the sport, in fact. Michael Schumacher and Sebastian Vettel, who is currently signed to Ferrari.

Two venues doubled up as hosts for the German Grand Prix – Hockenheimring and the Nurburgring in Nurburg. The latter was bought over by Russian billionaire Victor Khartonin, who was unable to resurrect the racing on the circuit, sadly.

This will be welcome news for German fans, who have the privilege of one of the best overtaking circuits on the calendar and could, after Finland, be considered the hub of motorsport as far as nations go.